#XAUUSD @ 1,937.97 Gold Price Forecast: to settle back at around $1,875 on a three-month period – Standard Chartered
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Gold tends to deliver a positive return whenever there is short term stress in the financial system. Nonetheless, economists at Standard Chartered expect the yellow metal to turn back lower toward $1,875 over the coming months.
“Investor positioning remains far from extremes, suggesting it is unlikely to stand in the way of further gains. These suggest there is a reasonably high probability of XAU/USD overshooting in the very short term, especially if banking sector fears persist. Having said that, we are mindful that Gold helps mitigate volatility over relatively short time horizons.”
“Over a longer three-month period, we would not chase recent gains excessively and instead expect Gold to settle back at around $1,875.”
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